Sotheby’s reports on ‘fierce bidding and competition’ during the auction for the 5.16-carat pear-shaped internally flawless fancy vivid blue diamond that was one of the 11 blue diamonds formerly in the legendary De Beers Millennium Jewels Collection.

The diamond, certified by the GIA and inscribed with “De Beers Millennium Jewel 11’, was purchased by Moussaieff of London for US$6.4 million, or US$1.24 million per carat.

Quek Chin Yeow, Head of Sotheby’s Hong Kong Jewellery Department & Deputy Chairman of Sotheby’s Asia, said: “Today's sale of Magnificent Jewels and Jadeite, which achieved the highest total ever for a sale in this category conducted by the company in Hong Kong, demonstrated that what drives buyers and collectors in the current market is the search for perfection and rarity. Our top lots - from the Highly Important Diamond Riviere Necklace composed of 50 D color internally flawless white diamonds, to the important 5.16-carat fancy vivid blue diamond – one of the De Beers Millennium Jewels - and the spectacular D color internally flawless white diamond pendant of 33.31 carats - provided the very special and the rare, and were the objects of vigorous competition from bidders from across Asia and the world, both private collectors and trade. These results were the latest in a series of triumphs for Sotheby’s Hong Kong and achieved strong prices for white diamonds, coloured diamonds, jadeite and pearls.”